Spoonman
Gold Member
- Jul 15, 2010
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Good for GE. I have always thought of them as a gang of greedy bastards, but this shows that even they have a conscience.
and a need to payback the Obama administration for massive taxbreaks
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Good for GE. I have always thought of them as a gang of greedy bastards, but this shows that even they have a conscience.
Give us some "credible" proof that banks were forced into making bad loans. The problem wasn't the loans - the problem was what Wall Street did with those loans. Here's what you righties try to ignore:
The Absurd Zombie Lie About the Economy Right-Wingers Desperately Cling To -- And Why It's Totally Wrong
Wait a minute. It's not even an arguable concept. Does the left really think Wall Street prevented people from making payments on their mortgages? You are more hopeless than I thought.
Wall Street inflating those mortgages to 100 times their value is what caused all the pain.
No bank was ever forced or coerced or incentivized by the government in any way to make a bad loan.
What brought down the global economy was as much as $140 trillion worth of financial gimmickery built on top of the mortgage industry. It was the alphabet soup of the credit meltdown the CDOs, default swaps and other derivitaves that made less than a trillion dollars of foreclosed loans into an economic weapon of mass destruction that would cost the American economy alone $14 trillion in lost wealth.
The Absurd Zombie Lie About the Economy Right-Wingers Desperately Cling To -- And Why It's Totally Wrong
Good for GE. I have always thought of them as a gang of greedy bastards, but this shows that even they have a conscience.
and a need to payback the Obama administration for massive taxbreaks
I have a credit card through GE Capital which I will be cancelling when I get home from work.
I have a credit card through GE Capital which I will be cancelling when I get home from work.
General Electric is quietly cutting off lending to gun shops, as the company rethinks its relationship to firearms amid the fallout from the school shooting in Newtown, Conn.
This month, Glenn Duncan, owner of Duncan's Outdoor Store in Bay City, Mich., said he received a letter from GE Capital Retail Bank in which the lender said it had made "the difficult decision" to stop providing financing services to his store. Other gun dealers have received similar notices.
"Industry changes, new legislation and tragic events" led GE Capital to reexamine its policies on financing firearms, spokesman Russell Wilkerson said.
The company's exit has little overall impact in a U.S. gun market, where sales last year totaled $11.7 billion, according to IBIS World. While a typical handgun can cost more than $300, financing remains a marginal activity.
GE's ban applies only to retailers whose sole business is selling firearms, an "insignificant and immaterial" part of GE Capital's business, Mr. Wilkerson said. The lender is still doing business with merchants with more diverse lines of business [e.g., Wal-Mart, Dick's Sporting Goods]
Daily Kos: GE Capital Cuts Off Lending to Gun Shops
the market will decide when the left looses power...The free market rears its ugly head!!!
lolol
you rightwing nuthouse inmates should be giving this a standing ovation. Let the market decide!!
Good for GE.
The free market rears its ugly head!!!
lolol
you rightwing nuthouse inmates should be giving this a standing ovation. Let the market decide!!